Bitcoin miners sell BTC to fund accelerating pivot to AI

Bitcoin miners are accelerating their transition into the AI and data center sectors due to declining profitability, leading them to increase sales of their BTC holdings, CoinDesk reported. Citing data from CoinShares, the report noted that the average production cost per BTC for miners is approximately $79,995, significantly exceeding the current market price of around $70,000. As a result, the industry has begun a structural shift, signing contracts worth about $70 billion in the AI and High-Performance Computing (HPC) fields. Some companies are projected to generate up to 70% of their total revenue from AI by 2026. This transition is being financed through increased debt and BTC sales, with publicly traded miners having reduced their holdings by more than 15,000 BTC. Market analysts suggest that this selling pressure from miners could act as a short-term headwind for Bitcoin's supply.